Your daily dose of financial news The Brief – 3.7.16

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The Federal Reserve is now tossing around a proposal that would “effectively place[] a cap on how much business banks can do with another bank or company”—the idea being to prevent the 2008-era mistake of Wall Street banks putting “too many of their financial eggs in one basket.”  The new rule would be a “less strict” version of a similar idea the Fed proposed in 2011 – NYTimes and Law360

More from the Times on negative interest rates [heyyyyy,ECB], including the “real danger” of a currency war erupting when several countries go negative –  NYTimes

Jobs numbers came in better than expected and helped push Friday stocks to a two-month high – WSJ

D.C. Federal District Court Judge Rosemary Collyer gave JPMorgan some good news on Friday, tossing a suit by WaMu bondholders accusing JPM of “engineering the bank’s 2008 collapse in order to buy it at fire sale prices,” finding that the bondholders “failed to prove JPMorgan breached their bond contracts – Law360

This weekend’s Fair Game reviews Valeant’s timeline since last December and finds it so full of trouble that it suggests there are “genuine questions about whether shareholders should rely on anything Valeant’s management and board tells them, now or in the future” – NYTimes

Bloomberg on the massive demand for benchmark 10-year Treasurys in the repo market, where supply is currently crazy short – Bloomberg

State Street Global is introducing its 159th ETF this week, but this one is well worth keeping an eye on. Marked by the ticker system “SHE,” the SPDR Gender Diversity Index ETF seeks to achieve “market-rate returns by investing in United States companies that ‘are leaders in advancing women through gender diversity on their boards of directors and in management.’” The California State Teachers Retirement System is already pledging $250 million for the fund, with another $250 million coming soon – NYTimes

Ain’t no scandal like a crossword scandal, ‘cause a crossword scandal don’t _ _ _ _ (clue: finally gave up that nasty habit) – NYTimes

Another epic State Tourney wrapped up this weekend. Which means it’s time again for the All Hockey Hair Team, this time even more chock full of MN pride – YouTube

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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